LIFE INSURANCE

INSURANCE

Life Insurance

Life insurance policies pay the holder of the policy a lump sum in the event of death. Policies can be held by an individual or within a superannuation fund with the premiums being tax deductible for the latter.

There are numerous options. Ensure you understand the fine print or have someone like us explain the terms to you.

Total Permanent Disability (TPD) Insurance

Often linked to a Life Insurance policy. TPD insurance pays the policy holder a lump sum in the event that the life insured is permanently disabled. There are two types. 'Any industry' and 'All industries'. Policies can be held by an individual or within a superannuation fund. Premiums are tax deductible for superannuation funds. Ensure you understand the many variations and options.

Income Protection Insurance

An insurance policy that pays you a monthly income in the event of loss of employment. There are many options with this type of insurance. Payments can run until you are over 60 years of age. Waiting periods vary greatly with some insurance companies requiring proof of wages when a claim is made.

Trauma Insurance

An insurance policy that pays you in the event you are diagnosed or experience a potentially life changing illness or event. Unlike TPD, a permanent disability does not need to be proven for a claim to be paid. Payment is much faster than that for TPD insurance.

LIFE INSURANCE

“I don’t need LIFE INSURANCE! Nothing will happen to me. “

Life is all about managing risk. Unfortunately, the unexpected does happen. What would be the consequences for your loved ones if something were to happen to you? In addition to the emotional turmoil, what would happen to them financially? Would the mortgage continue to be paid? Would your partner be able to maintain their existing standard of living? Who would pay the costs of raising your children?

Each year, thousands of families are left in financial despair as the result of an unexpected death. Your probability of dying during a given year doubles every 8 years. Accidents do happen and without insurance, you’re placing the wellbeing of your family at risk.

Think about what is important to you.

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